11-13 Hempstead Rd 817 SF Retail Unit Offered at £305,000 in Kings Langley WD4 8BJ
INVESTMENT HIGHLIGHTS
- Good road connections
- High footfall area
- Close to residential areas
EXECUTIVE SUMMARY
The premises are located in the popular village of Kings Langley, just 5 miles to the north-west of Watford, just outside the M25, adjacent to Junction 20. The village has a population of approximately 5,200 (2021 census) and is a popular commuter village having a thriving retail scene with a number of independent cafes and retailers. The shop is in a parade of 6 shops and flats at the western end of the village which benefits from short term parking immediately at the front. Although the units have different postal numbers, the flat is in fact directly above the shop.
PROPERTY FACTS
| Price | £305,000 |
| Unit Size | 817 SF |
| No. Units | 1 |
| Total Building Size | 5,217 SF |
| Property Type | Retail (Unit) |
| Property Subtype | Storefront |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 2 |
| Typical Floor Size | 5,217 SF |
| Year Built | 1963 |
1 UNIT AVAILABLE
Unit 11a
| Unit Size | 817 SF |
| Price | £305,000 |
| Price Per SF | £373.32 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 6.99% |
| NOI | £21,330 |
DESCRIPTION
The property comprises an end-of-terrace ground floor retail unit and the flat above within a purpose built block of 6 shops and flatsthat includes a Simmons bakery, Hospice of St Francis charity shop, a health food shop, a newsagents with Post Office and a Fish and Chip shop.
SALE NOTES
The shop is let out on a protected tenancy to Ladbrokes Betting and Gaming Ltd, the main company that Ladbrokes use for leases. It is let on a lease originally for a term of 15 years with a 10 year rent review only and a tenant only break clause at the tenth year on an internal repairing and insuring lease.
AMENITIES
- Storage Space
NEARBY MAJOR RETAILERS
